Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-11-26

The conservative tone OF the real estate market
stii continues to characterize real estate transac
TONS The activity Of the past year has given way
10 more moderate and careful method OF invest
ment ana while the transactions are fewer in num-
Der, they are Of a healthy character and indicate
| no loss OF confidence in the future OF prop
| erty here. real estate dealer Of sound
Judgment and extended experience in
conversation with a STAR reporter says there has
been no falling on in prices OF property and he an
| ucfpates none. "When," he continued, 80 build
ing site can be purchased for s. 900 within short
distance OF Dupont Circle. which Is now regarded
as the center OF the fashionable part Of the city.
don't see any reason to expect q slump in prices.
very cheap here and those who come
mere and invest realize that fact fully. There u
gpsa se csa OF u building now In not only
long as improvements are going on consider that
the tone OF the real estate market is healthy. It
which is going on ali the time, but there is no
doubt OF the fact Of such growth. People who have
money 20 not invest II In improvements which
new houses but few would be butt know that there
are number OF wealthy people who are looking
around for building lots with the intention when
MONIES LOT themselves. There are other indications
the nm SNOW beyond doubt that this CITY Is on
as some would have US believe"
SALE OF CHEVY CHASE.
Thomas j. Fisher Co. have sold for C. c. Glover,
hichard II. Goldsborough, and Thomas Hyde, to
S,r. John C. Bullett, of Philadelphia for $65, OOO
t tne farm known as Chevy Chase. This farm was
yue PrUperty OF the late Joseph H. Bradley, and
ID May last for al 500 1t contains 3O4 acres and
lies at the intersection OF the Broad Branch and
Of sSs n1a Of Fifteen
District lines. and the remainder in Mont
g gone Occur, County, ma Il was for many
home, and Is improved by good residence and the
necessary outbuldings. 1t Is stated to be the in
nsl0n OF the purchaser to rent the place for the
present as residence, but his ultimate purpose is
70 suDdlvlde the land into building sites Mr. Bull
ietI tne purchaser, is a well-known citizen and
great confidence in the future growth OF this city
and became interested In property here year
ago, when, In connection with several others,
ne purchased an undivided four-nfths OF the
tract OF land known as kalorama Heights. This
land, as is well known, lies on the west side of
avenue, which has been extended tnrourn this
property and through the adjoining property to
a nocS -, creek MI Bullet paid nearly $1,000 an
paced on the market as soon as the proceeding
before the District Court in behalf OF the infant
heirs for the partition OF the nronerfv ia COM
pleted.
IN THE TBNLKYTowN REGION
The work Of opening Massachusetts, avenue
from the Tenleytown road east is now going on.
MIR. Albert Gleason, the contractor, has corps OF
men at work In grading the roadway, and it is the
intention OF the parties who own the property on
each - side OF the avenue, and who are doing this
WORK at their own expense, to continue grading
until the grounds OF the Naval Observatory are
reached. 1t is expected that Congress will take
some action In regard to the extension OF the ave-
nue. through this place, which is the property OF
tne united states. IL Is thought that Congress
Will provide for the erection OF bridge across
ROCK creek In order TO unite the two ends Of Massa-
cnusetts avenue, and in that case some arrange
ments will be made for getting through or around
the Naval Observatory Grounds, and thus provide
a continuous drive to the Tenleytown road.
Inc owners OF property In that vicinity and on the
Tenleytown road are now engaged in organizing
company for the purpose OF constructing cable
railroad along the TenleytOwn road from George
town to the District line. They have secured the
right OF way through the property bordering the
road, and as they Will not use the public roadway
they are not obliged to go to Congress for a
charter.
Mr.. r. II. Godsborough reports the latest trans
action In property on the ienleytown road. He
has sold 10 Mr.. Thomas Hyde, trustee for $4,000
the tract OF land known as the Iturbide tract, on
the east side OF the road, Just beyond the Presi-
dents residence. 1t contains 5 32-lOO acres so
that the land brought about &c. 200 per acre. Mr.
Godsborough bought the property last spring.
and paid for 1t $500 per acre.